Mission

setting and enforcing standards of conduct and professional development requirements for the industry to protect the consumer

providing services that enhance and improve the industry

promoting the integrity of the industry

protecting against, investigating, detecting and suppressing mortgage fraud as it relates to the industry

Vision

By 2020, the Real Estate Council of Alberta will:

set the foundation for real estate professionals to serve the public interest, protect consumers, and provide a positive real estate experience through effective establishment and enforcement of professional standards

be recognized as an independent, responsive, and impartial governing body

ensure real estate practitioners have a professional mindset and engage in the practice of self-regulation

Commitment to Consumer Protection

The Real Estate Council of Alberta protects consumers through:

Establishing education standards for entry into the industry

Setting licensing requirements to ensure suitability of individuals who wish to enter the industry

Requiring mandatory participation in an errors and omissions insurance program

Setting standards of business conduct that promote the integrity of the industry

Carrying out effective investigation of complaints

Conducting disciplinary proceedings

Administering the Real Estate Assurance Fund

Provision of information services to educate consumers about real estate, mortgage and appraisal services and the business of industry members

Commitment to Self-regulation
Alberta has one of the busiest markets for real estate and mortgages in North America; it is also home to the most dedicated professionals in the industry, who demonstrate their commitment to consumers and to high standards of service through responsible self-regulation.

Prior to July 1, 1996, regulation of the real estate industry was the responsibility of the provincial government. While the minister of Service Alberta is responsible for the Real Estate Act and general monitoring of RECA, the provincial government has no direct involvement in the day-to-day operations of RECA.

Alberta is one of only a few jurisdictions in North America with full self-regulation of the real estate industry, fully funded by industry members. In most other provinces and states responsibility is either shared with government through co-regulation or entirely the government’s concern.

The move from government regulation to self-regulation in Alberta arose not only from a desire for more effective consumer protection, but also from a drive within the industry for greater professionalism. The best interests of both the industry and the public are served when RECA discourages unethical or illegal business practices. This is accomplished by investigating complaints, conducting disciplinary hearings and implementing initiatives to improve the practice of real estate brokerage, mortgage brokerage and real estate appraisal in Alberta.

Council approved the 2011-2016 Strategic Plan in July 2011, cementing RECA's focus on self-regulation. By 2016, the Real Estate Council of Alberta will:

Be seen as the impartial, principles-based governing body, facilitating excellence in self-regulation, individual responsibility and accountability

Advance the knowledge, career preparation, and ongoing practice in the industry through professional development programs and services

Establish and promote quality standards and performance improvement solutions in a fair and respected manner that enhances public protection, trust and confidence in the real estate industry